The Citi Simplicity card truly lives up to its name. It simply eliminates every additional service fee that one is typically assessed on other competing credit cards. After comparing credit cards from competing financial institutions, one can conclude that this card leads the way in the duration of introductory interest rates. It also leads the way by eliminating all penalty fees; virtually no other credit card company is offering such a benefit. The card does lag behind in offering cash back incentives. Other cards that are offering 0% introductory rates are also offering cash back on gas and groceries. Overall, this card is competitive when compared with similar card offers.
The Citi Simplicity card offers a 0% introductory interest rate for the first 18 months. This interest rate is applicable on both charges and balance transfers. After the introductory period, the interest rate reverts to variable APR of 12.99% – 21.99% (Variable).
The Citi Simplicity card eliminates all additional fees. In todayâ€™s volatile financial economic climate where employment is never guaranteed, one is naturally concerned as to the damage that late fees and interest rate hikes may have on ones ability to pay their credit cards. The Citi Simplicity card offers the advantage of never charging a late fee and never increasing the APR because of a late payment, missed payment or over-extending the credit.
Additionally, the Citi Simplicity card does not charge an annual fee. Consumers will be charged a 3% fee when transferring balances to the card, but this fee only occurs if/when the consumer transfers a balance. While mentioning balance transfers, it is useful to mention that balance transfers must be performed within the first 4 months of opening the Citi Simplicity card in order to take advantage of the 0% introductory APR.
The Citi Simplicity card offers enhanced customer service options as well. Consumers will encounter zero wait time when calling in for live help on their 24-hour toll-free customer service line. Citi Simplicity card members receive 10% Extra Cash on certain purchases made with the card. Extra Cash is a benefit that gives card members great deals and discounts on items like travel, gift cards, entertainment and more. When comparing the Citi Simplicity card with similar cards from competing financial institutions, it appears that the Citi Simplicity card leads the pack. Other cards are offering a 0% introductory rate but for a shorter duration then the Citi Simplicity card. Typical duration ranges from 6 months to 15 months. Other cards charge a larger balance transfer fee. Typical transfer fees are 4% of the balance transfer amount.
The Citi card falls short compared to other cards when considering the cash back benefits of other cards. For example, some cards that are offering 0% introductory APR is also offering 2% cash back on gas and groceries. This is a striking incentive given the cost of fuel and groceries today. These competing cards do not place limits on the amount that consumers receive in cash back. Rewards can be redeemed at anytime for any amount. Consumers can set up their cards to automatically redeem cash at a certain point. Virtually no competing credit cards are offering zero late fees, zero APR hikes, and zero annual fees. This is one benefit that is unique to the Citi Simplicity card.
Citibank is now offering a credit card where you can finally talk to a human when you need customer service and get the benefits of no late fees. The Citi Simplicity Card is the latest of the “no hassle” type cards to come out following similar cards from Capital One and American Express Clear. The two Citi Simplicity Cards are pretty much the same except the one on the left features less APR for the long term vs. the Simplicity Rewards Card. Its a matter of choice if you prefer rewards or keeping everything even more “simple”.
Pros: No Late Fees, No Annual Fees, Less Hassles when you call
Cons: Interest raises higher if you miss your payments and late fees can be imposed if you quit using your card.
Bottom Line: We do not advise that you use this card to get out of debt due to the interest increases that may happen. Please use this card with caution and read all the fine print.
If you would like to ask questions about the Citi Simplicity Card then call 800-986-2484.